5 Energy Stocks to Buy Now According to SailingStone Capital Partners

2. Range Resources Corporation (NYSE:RRC)

SailingStone Capital Partners’ Stake Value: $107 million

Percentage of SailingStone Capital Partners’ 13F portfolio: 27.12%

Number of Hedge Fund Holders: 25

Range Resources Corporation (NYSE:RRC) is an oil and gas exploration and extraction company based in Texas, US. The company was founded in 1976. The company mainly operates in The Marcellus Formation. As of late, the company has 17 trillion cubic feet of proven natural gas reserves.

SailingStone Capital Partners holds 4.7 million shares in the company after a 50% decrease in stake in the third quarter of 2021. The investment accounts for 27.12% of the hedge fund’s total portfolio in Q3’21.

On November 19, Morgan Stanley analyst Devin McDermott downgraded the Range Resources stock to ‘Underweight’ from ‘Equal Weight’ and set the price target at $26.